Black Stone Minerals Company, L.P., a privately-owned Delaware limited partnership located in Houston, Texas, is one of the largest private fee mineral and royalty owners in the United States. Black Stone owns interests in more than 53,000 wells and approximately 14.6 million gross fee mineral acres across 41 states in every major producing basin. In addition, Black Stone owns other royalty interests in approximately 2.8 million acres. The Company’s primary operations include leasing minerals to exploration and production companies, participating on a working interest (cost-bearing) basis when economics are favorable and acquiring additional properties for future leasing and development.

Since 1999, Black Stone has conducted the steady and methodical aggregation of fee minerals, royalties, overriding royalty interests and non-operated working interests. During that time, the company has completed 40 acquisitions totaling approximately $1.5 billion with interests in 17.4 million gross acres. As one of the largest private mineral owners and with control of large blocks of contiguous acreage throughout the country, Black Stone provides exploration companies with an extensive acreage inventory from which to generate prospects and thus a "one-stop shop" to search for new opportunities. In addition, Black Stone’s in-house geological and geophysical team uses the company’s extensive seismic library to assist E&P companies in the identification of emerging plays and potential drilling locations. Our land department quickly negotiates leases on fair terms to get the minerals "in play." Because Black Stone is not an operator, it does not compete for reserves with its lessees like traditional E&P companies do.